US Housing Bust Is Over

US Housing Bust Is Over

The housing market has turned—at last.

The U.S. finally has moved beyond attention-grabbing predictions from housing “experts” that housing is bottoming. The numbers are now convincing.

Nearly seven years after the housing bubble burst, most indexes of house prices are bending up. “We finally saw some rising home prices,” S&P’s David Blitzer said a few weeks ago as he reported the first monthly increase in the slow-moving S&P/Case-Shiller house-price data after seven months of declines…

…Economists aren’t always right, but on this at least they agree: A new Wall Street Journal survey of forecasters found 44 believe the housing market has reached its bottom; only three don’t.

Read Full Story on The Wall Street Journal…

 

No Need To Rush To Buy

No Need To Rush To Buy

Interest rates are at record lows, housing is more affordable than it has been in nearly a decade and multiple offers are in the air.

Kiplinger.com recently reported the monthly cost of owning a home is far cheaper than renting, given the recent spikes in rent. At current mortgage rates, home prices would have to rise by 35 percent to tip the scales.

It appears the housing recovery is afoot, but that rush-to-buy-before-the-bargains-are-gone mentality may be misplaced.

Read More on Realty Times…

US new-home sales rose at fastest pace in 2 years

US new-home sales rose at fastest pace in 2 years

Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery is continuing in the U.S. housing market, despite weaker job growth.

The Commerce Department said Monday that sales of new homes increased 7.6 percent in May from April to a seasonally adjusted annual rate of 369,000 homes. That’s the best pace since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

Even with the gains, the annual sales pace is less than half the 700,000 that economists consider to be healthy.

Yet the increase follows other signs that show the housing market is slowly improving nearly five years after the bubble burst.

Read More on The Seattle Times…

Housing market shows early signs of healing

Housing market shows early signs of healing

A spring growth spurt continues to bloom in the housing market.

Existing-home sales rose 3.4 percent from March to April with tight supplies in markets like Miami helping to seed the rejuvenation, according to National Association of Realtors data released today.

Year over year, home sales were 10 percent higher in April while median home prices touched $177,400, a 10.1 percent spike from April 2011, the NAR said.

Read More on MSNBC…

Are you planning to buy a home? Now is a great time with this market and interest rates so low! Check out our Homeownership Simplified section a for information & tips on buying a house in Washington State as well as our handy calculators to figure out potential mortgages, closing costs, and more!

U.S. home re-sales dip but best winter in 5 years

U.S. home re-sales dip but best winter in 5 years

U.S. sales of previously occupied home dipped last month but the sales pace for the winter was the best in five years.

The National Association of Realtors said Wednesday that home sales fell 0.9 percent last month to a seasonally adjusted annual rate of 4.59 million. That’s down from a revised 4.63 million sold in January – the highest level since May 2010.

The last three months have been the best for winter sales in five years. A mild winter and a stronger job market have helped boost sales ahead of the all-important spring buying season.

Read More on Komo News…